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Requestor-based funds transfer system and methods

  • US 10,558,957 B2
  • Filed: 02/22/2013
  • Issued: 02/11/2020
  • Est. Priority Date: 07/11/2000
  • Status: Active Grant
First Claim
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1. A method for transferring funds, the method comprising:

  • receiving, at a payment enabler computer system, a communication, the communication comprising a sender account identifier associated with a sender and receiver account identifier associated with a receiver;

    querying, by the payment enabler computer system, associated memory to determine that the receiver account identifier is not associated with an entry in the associated memory;

    sending by the payment enabler computer system, a webpage link to an electronic address associated with the receiver account identifier;

    receiving, from a computer device associated with the receiver, an affirmative response to the webpage link, the affirmative response causing the payment enabler computer system to initiate a challenge-response protocol comprising;

    receiving, from a computer device associated with the sender, a challenge-response communication defining one or more parts of a challenge-response authentication;

    generating, by the payment enabler computer system, based at least in part on the received challenge-response communication, a challenge;

    transmitting, by the payment enabler computer system, the challenge over a communication network to the computer device associated with the receiver;

    receiving, by the payment enabler computer system, a response to the transmitted challenge;

    comparing a received response to the challenge-response communication to authenticate a user associated with the sender account identifier;

    in response to a positive authentication, creating an entry in the associated memory and associating said entry with the receiver account identifier; and

    causing, by the payment enabler computer system, an electronic transfer of funds from a sender account associated with the sender to a receiver account associated with the receiver.

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